Selena 2019 Spring Newsletter
Spring is finally here! Yes it is officially spring but it has been a while since we have seen the grass here in Edmonton. The weather warming up is great news for us Edmontonians and it encourages people to get out side and enjoy themselves. It also encourages open houses and increases in both new listings and sales, so we should see some improvement in the market.
Perhaps you heard our Real Estate market is the lowest it has been in the last 12 years. It is true and we have more listings and more inventory left over each month that it will take several months to absorb. This first quarter total sold on MLS is much lower than previous years. The question I been getting most is how low can it go. And I wish I have a crystal ball to predict. The province election is coming, and for good or for bad, we are looking for a change, and hope it will boost our real estate market. I’m a strong believer in economic fundamentals, I see things differently. Few days ago I gave a Real Estate market update to Collaborate group, I mentioned just in City of Edmonton, we have almost $9 Billion in current projects, with a further $17 Billion proposed. These are the numbers from the Gov website majorprojects.alberta.ca, and they only count projects starting from $5million to 26 Billion. With this many projects going on, Edmonton do need man power, which means more jobs will be created, more business, and of course more income and therefore, more spending.
And reading between the lines, buy when the market is low, and sell when its high is the best way to make money in Real Estate. There has been an improvement in consumer spending noted in some industries such auto so it is good to see there is increased confidence in the economy from other sectors too. Edmonton Vacancy rate also decline recently. Most properties will be renting within in 45 days. On April 27, Davies Property Management (DPM) is going to give rental market update for our Vancouver clients. If you haven’t already registered, Make sure you RSVP for our Buy Edmonton Buy Now event.
Freshly back from attending some new training in Vegas put on by Coldwell Banker. Vegas is always a fun place to go for a few days to experience something new and this time it was amazing. I was impressed just how prominent Coldwell Banker brand is. I knew it was a very big name in the states but it is also world wide with many offices and agents in dozens of countries. A true eye opener for me is the luxury side of things. I did complete the luxury course they offer and I am pleased to announce I am the first designated luxury specialist in Edmonton for Coldwell Banker. Edmonton doesn’t spring to mind as a luxury city such as Vancouver would, but we do still have some beautiful homes here and I have already have a luxury listing which is a great way to set the ball rolling. One of the main reasons I wanted to do the luxury course is to find out what can I learn about how agents market and sell these very expensive homes, and then apply it to our business here in Edmonton with everyday properties. Anything that can give our clients an edge to help market and sell their homes is welcome in such a tough market like Edmonton. Coldwell Banker Luxury is the world leader when it comes to selling luxury homes as it has affiliates all around the globe, hence the name Global Luxury. They sell a staggering $160 Million worth of Real Estate Every Day which is absolutely phenomenal and you can see why Vegas was the perfect place to host the event. Plus I like shopping in Vegas so it is Win Win, mix business with pleasure.
Vancouver Prices still too high to make investment sense? Then come attend our upcoming Buy Edmonton event in Vancouver at the end of April where you will learn what is driving the local economy and why buying investment property now makes sense. Space is limited so you will need to Sign Up first.
This article contains the opinions of Andrew Barrett and Selena Cheung. Licensed Realtors® with COLDWELL BANKER Venture Realty.
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